Michael Dell back in charge as Rollins exits Dell

Two and a half years after handing the chief executive title to his hand-picked successor, Kevin Rollins, Michael Dell is again running the company he founded, Dell Inc.

Dell struggled under Rollins's tenure, recently losing its number-one PC vendor ranking to a resurgent Hewlett-Packard Co. and weathering a formal investigation by the U.S. Securities and Exchange Commission into the company's accounting practices.

Rollins has resigned his position as CEO and member of the company's board of directors, Dell said in a statement Wednesday.

The company's board had decided that "there is no better person in the world to run Dell at this time than the man who created the Direct Model and who has built this company over the last 23 years," the statement said. Dell also remains chairman of the board.

Rollins joined Dell in 1996 from management consulting firm Bain & Co. Prior to assuming the role of CEO in July 2004, he had served as Dell's president, chief operations officer and vice chairman.

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